MoneyGram launches MGUSD stablecoin

MoneyGram said on June 2 that it launched MGUSD, a U.S.-dollar stablecoin on the Stellar blockchain, adding a proprietary token to a payments business that has been building crypto and stablecoin services for several years. The company said MGUSD launches first in the U.S. market and is intended to sit inside a broader set of services across MoneyGram’s global network. (prnewswire.com) MoneyGram said the token will be integrated directly into its app through a self-custodial wallet, allowing customers to hold a dollar-denominated balance. The launch extends a blockchain strategy the company has been pursuing with Stellar, including cash on-and-off ramps and stablecoin balances in selected markets. ### What exactly did MoneyGram launch on June 2? (prnewswire.com) MoneyGram said MGUSD is a native U.S.-dollar stablecoin built on Stellar and positioned it as the base layer for future financial services across its network. The company said the token is designed for customers sending money across borders and for users with limited access to traditional financial services. The June 2 announcement said MGUSD starts in the United States, with plans to scale globally. CoinDesk, citing the launch, reported the stablecoin will power services across MoneyGram’s global network as the company joins a wider push into digital-dollar payments. (prnewswire.com) ### How will customers actually use MGUSD? MoneyGram said MGUSD will be integrated into the MoneyGram app in a self-custodial wallet, giving customers a stable, dollar-denominated balance they can hold directly. The company said users will be able to move funds globally and convert them into local currency when needed. The Stellar Development Foundation said in an April 22 release that MoneyGram had already rolled out stablecoin balance features in Colombia and El Salvador using Stellar-based infrastructure. (prnewswire.com) That earlier release described customers receiving funds into a U.S.-dollar balance, holding digital dollars and cashing out at MoneyGram locations, offering a template for how MGUSD-backed services may be delivered. That comparison is an inference from the prior product rollout and MoneyGram’s latest description of app-based balances. ### Who is providing the infrastructure behind the token? MoneyGram said Bridge, a Stripe company, is the regulated issuer for MGUSD. The company said M0 provides the smart-contract infrastructure used to mint and burn the tokens, while Fireblocks provides the wallets MoneyGram uses to send MGUSD to customer wallets embedded in the app. (prnewswire.com) CoinDesk reported the same structure, saying MGUSD is issued by Bridge and launched on Stellar. MoneyGram’s release described that partner stack as the basis for a “growing suite” of services around the token. ### Why is Stellar part of this rollout? Stellar has been part of MoneyGram’s blockchain payments buildout since at least 2021, according to the Stellar Development Foundation. (stellar.org) In an April 22 announcement, Stellar and MoneyGram said they had extended their partnership in a multi-year deal focused on scaling stablecoin utility globally. That April release said the companies had already built what they described as the world’s largest cash on/off-ramp for digital assets and had launched MoneyGram Ramps for developers. (prnewswire.com) MoneyGram’s June 2 announcement places MGUSD on the same network, making Stellar the native issuance layer at launch. (coindesk.com) ### What scale is MoneyGram bringing to the launch? MoneyGram said it serves more than 60 million active customers through nearly 500,000 retail locations, with more than 70% of transactions now digital. The company said its network combines physical access points and mobile-wallet distribution, a structure it says can support both cash and blockchain-based services. (stellar.org) The company’s U.S. consumer site says customers can already send money online, in the app or at MoneyGram locations within the United States and internationally. MGUSD is now being added to that broader network architecture rather than introduced as a standalone crypto product. ### What comes next after the U.S. launch? (stellar.org) MoneyGram said MGUSD launches in the U.S. on June 2, 2026, with plans to scale globally. The company said the next step is direct integration into the MoneyGram app’s self-custodial wallet, while partner infrastructure from Bridge, M0 and Fireblocks will support issuance, minting, burning and wallet delivery. Stellar and MoneyGram said on April 22 that additional markets across Central and South America were expected to launch throughout 2026 as their stablecoin services expanded. (prnewswire.com) MoneyGram did not give a specific date for MGUSD’s next market launch in the June 2 announcement. (stellar.org) (moneygram.com)